Patten Group Inc. Purchases 443 Shares of RTX Co. (NYSE:RTX)

Patten Group Inc. grew its holdings in shares of RTX Co. (NYSE:RTX) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 37,863 shares of the company’s stock after acquiring an additional 443 shares during the period. RTX makes up 1.0% of Patten Group Inc.’s investment portfolio, making the stock its 16th largest holding. Patten Group Inc.’s holdings in RTX were worth $4,382,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in RTX by 545.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,478,784 shares of the company’s stock worth $286,845,000 after acquiring an additional 2,094,834 shares during the last quarter. Capital Wealth Planning LLC bought a new position in shares of RTX during the 4th quarter worth approximately $216,340,000. Proficio Capital Partners LLC boosted its stake in shares of RTX by 19,052.5% in the 4th quarter. Proficio Capital Partners LLC now owns 1,043,239 shares of the company’s stock worth $120,724,000 after buying an additional 1,037,792 shares during the last quarter. Jennison Associates LLC increased its position in shares of RTX by 190.7% during the fourth quarter. Jennison Associates LLC now owns 1,514,015 shares of the company’s stock valued at $175,202,000 after acquiring an additional 993,273 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in RTX by 4.8% during the third quarter. Fisher Asset Management LLC now owns 18,471,471 shares of the company’s stock worth $2,238,004,000 after acquiring an additional 852,183 shares during the period. Institutional investors and hedge funds own 86.50% of the company’s stock.

Wall Street Analyst Weigh In

RTX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised RTX from a “hold” rating to a “buy” rating and raised their target price for the company from $131.00 to $140.00 in a research report on Thursday, January 2nd. Royal Bank of Canada raised their price objective on shares of RTX from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Citigroup upgraded shares of RTX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $132.00 to $153.00 in a research note on Tuesday, January 21st. Susquehanna raised their price target on shares of RTX from $139.00 to $147.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley upped their price objective on RTX from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, RTX presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

RTX Stock Up 0.5 %

RTX opened at $133.68 on Tuesday. The company has a market cap of $178.08 billion, a P/E ratio of 37.66, a P/E/G ratio of 2.11 and a beta of 0.82. RTX Co. has a 12 month low of $89.14 and a 12 month high of $135.36. The business’s 50-day moving average price is $123.06 and its 200-day moving average price is $121.52. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.63.

RTX (NYSE:RTX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.19. RTX had a return on equity of 12.45% and a net margin of 5.91%. On average, equities analysts expect that RTX Co. will post 6.11 EPS for the current year.

RTX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, February 21st. RTX’s payout ratio is 70.99%.

Insider Activity

In related news, EVP Dantaya M. Williams sold 14,031 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $129.23, for a total transaction of $1,813,226.13. Following the completion of the transaction, the executive vice president now owns 44,415 shares in the company, valued at $5,739,750.45. This represents a 24.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher T. Calio sold 27,379 shares of RTX stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $130.36, for a total transaction of $3,569,126.44. Following the completion of the sale, the chief executive officer now owns 81,508 shares in the company, valued at approximately $10,625,382.88. This trade represents a 25.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,831 shares of company stock valued at $10,309,302. Insiders own 0.13% of the company’s stock.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.